SES AI (NYSE:SES) Shares Gap Down - Here's Why

SES AI Co. (NYSE:SES - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $1.75, but opened at $1.52. SES AI shares last traded at $1.57, with a volume of 6,636,267 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $1.50 target price on shares of SES AI in a research report on Tuesday, September 10th.

SES AI Trading Down 13.1 %

The company's fifty day moving average is $0.70 and its two-hundred day moving average is $0.87. The stock has a market cap of $548.09 million, a price-to-earnings ratio of -6.61 and a beta of 0.37.

SES AI (NYSE:SES - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). During the same period last year, the business earned ($0.04) EPS. Analysts predict that SES AI Co. will post -0.23 EPS for the current year.

Insiders Place Their Bets

In other SES AI news, major shareholder General Motors Holdings Llc sold 13,332,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $0.20, for a total transaction of $2,666,400.00. Following the sale, the insider now owns 9,843,622 shares of the company's stock, valued at approximately $1,968,724.40. This trade represents a 57.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jing Nealis sold 150,000 shares of the company's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $1.02, for a total transaction of $153,000.00. Following the completion of the transaction, the chief financial officer now owns 1,935,322 shares of the company's stock, valued at approximately $1,974,028.44. The trade was a 7.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,682,000 shares of company stock worth $3,551,400 in the last 90 days. Corporate insiders own 15.07% of the company's stock.

Institutional Investors Weigh In On SES AI

Several large investors have recently modified their holdings of the company. Squarepoint Ops LLC raised its stake in SES AI by 1,039.9% during the 2nd quarter. Squarepoint Ops LLC now owns 246,964 shares of the company's stock valued at $309,000 after acquiring an additional 225,299 shares during the last quarter. Anson Funds Management LP purchased a new stake in shares of SES AI during the third quarter worth approximately $108,000. Barclays PLC lifted its holdings in shares of SES AI by 281.1% during the third quarter. Barclays PLC now owns 171,860 shares of the company's stock worth $109,000 after purchasing an additional 126,763 shares during the period. JPMorgan Chase & Co. grew its position in SES AI by 204.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company's stock valued at $117,000 after buying an additional 122,803 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in SES AI by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company's stock worth $1,980,000 after buying an additional 83,607 shares during the last quarter. 29.78% of the stock is owned by institutional investors and hedge funds.

SES AI Company Profile

SES AI Corporation engages in the development and production of high-performance Lithium-metal rechargeable batteries for electric vehicles, electric vehicle take-off and landing, and other applications. The company was founded in 2012 and is headquartered in Woburn, Massachusetts.